Stop Paying Rent

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

It’s a dream we all have – to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home

Well, don’t feel trapped anymore! It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:

– save for a down payment

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Preapproval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written preapproval for you at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written preapproval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

To sum up, there are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning?

This conversation costs you nothing. And, of course, you shouldn’t have to feel obligated to buy a home at the time you review this. But by taking the time to explore your options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.

9 Buyer Traps & How to Avoid Them

No matter which way you look at it, buying a home is a major investment. But for many home buyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or
* losing their dream home to another buyer or,
* (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that’s best for you.

This important article discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.

The 9 Buyer Traps

Bidding Blind

What price should you offer when you bid on a home? Is the seller’s asking price too high, or does it represent a great deal? If you fail to research the market in order to understand what comparable homes are selling for, making your offer would be like bdding blind. Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer at all on an excellent value.

Buying the Wrong Home.

What are you looking for in a home? A simple enough question, but the answer can be quite complex. More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Maybe they’re stuck with a longer than desired commute to work, or a dozen more fix-ups than they really want to deal with now that the excitement has died down. Take the time upfront to clearly define your wants and needs. Put it in writing and then use it as a yard stick with which to measure every home you look at.

Unclear Title.

Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed. The last thing you want to discover when you’re in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases or the like.

Inaccurate Survey.

As part of your offer to purchase, make sure you request an updated property survey which clearly marks your boundaries. If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor’s new fence which is extending a boundary line, etc.). Be very clear on these issues.

Undisclosed Fix-ups.

Don’t expect every seller to own up to every physical detail that will need to be attended to. Both you and the seller are out to maximize your investment. Ensure that you conduct a thorough inspection of the home early in the process. Consider hiring an independent inspector to objectively view the home inside and out, and make the final contract contingent upon this inspector’s report. This inspector should be able to give you a report of any item that needs to be fixed with associated, approximate cost.

Not Getting Mortgage Preapproval.

Preapproval is fast, easy and free. When you have a preapproved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

Contract Misses.

If a seller fails to comply to the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way, this could delay the final closing and settlement. Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.

Hidden Costs.

Make sure you identify and uncover all costs – large and small – far enough ahead of time. When a transaction closes, you will sometimes find fees for this or that sneaking through after the “sub”-total – fees such as loan disbursement charges, underwriting fees etc. Understand these in advance by having your lender project total charges for you in writing.

Rushing the Closing.

Take your time during this critical part of the process, and insist on seeing all paperwork the day before you sign. Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted. Is the interest rate right? Is everything covered? If you rush this process on the day of closing, you may run into a last minute snag that you can’t fix without compromising the terms of the deal, the financing, or even the sale itself.

One More Tip…

Find out if your agent offers a Buyer Profile System or “House-hunting Service,” which takes the guesswork out of finding just the right home that matches your needs. This type of program will crossmatch your criteria with ALL available homes on the market and supply you with printed information on an on-going basis. A program like this can help you to affordably move into
the home of your dreams.

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Residential For Sale

9 Merriweather Crescent, Garlands Crossing, NS B0N 2T0

More Details

3Bedroom(s)

2Bathroom(s)

PavedParking(s)

35Picture(s)

1,184Sqft

Listing courtesy of Engel & Volkers (Wolfville)

C$315000

Residential For Sale

9 Merriweather Crescent, Garlands Crossing, NS B0N 2T0

3Bedroom(s)

2Bathroom(s)

PavedParking(s)

1,184Sqft

Listing courtesy of Engel & Volkers (Wolfville)

This is more than just a home; it's your invitation to embrace a relaxed, engaging retirement lifestyle with space for your hobbies. Enjoy bird watching from the South-facing sunroom, adventuring on the trail network located behind your backyard, gardening in the raised beds, or relaxing in the inviting hot tub.

C$315000

Residential For Sale

9 Merriweather Crescent, Garlands Crossing, NS B0N 2T0

Listing courtesy of Engel & Volkers (Wolfville)

3Bedroom(s)

2Bathroom(s)

C$315000

Residential For Sale

2008 Mount Hanley Road, Mount Hanley, NS B4N 1P0

More Details

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

28Picture(s)

1,102Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

C$294500

Residential For Sale

2008 Mount Hanley Road, Mount Hanley, NS B4N 1P0

3Bedroom(s)

1Bathroom(s)

DoubleParking(s)

1,102Sqft

Listing courtesy of Royal LePage Atlantic (New Minas)

You have horses? Or are you just looking for your own mini farm? This location and property is a rare find. There is so much here but new owner will need to do some tweaks to polish it up. There was a fire on the property in 2008, photos of repairs are available on request. Needs work inside house. Property being sold "As is, where is condition".

C$294500

Residential For Sale

2008 Mount Hanley Road, Mount Hanley, NS B4N 1P0

Listing courtesy of Royal LePage Atlantic (New Minas)

3Bedroom(s)

1Bathroom(s)

C$294500

Residential For Sale

561 Hall Road, Millville, NS B0P 1C0

More Details

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

50Picture(s)

3,080Sqft

Listing courtesy of Exit Realty Town & Country

C$799900

Residential For Sale

561 Hall Road, Millville, NS B0P 1C0

5Bedroom(s)

3Bathroom(s)

AttachedParking(s)

3,080Sqft

Listing courtesy of Exit Realty Town & Country

Welcome to 561 Hall Road, a property that truly stands apart. Set on 6.6 acres of privacy, trees, and trails, this beautifully designed 7-year-old family home offers the perfect balance of modern comfort and peaceful country living.

C$799900

Residential For Sale

561 Hall Road, Millville, NS B0P 1C0

Listing courtesy of Exit Realty Town & Country

5Bedroom(s)

3Bathroom(s)

C$799900

Residential For Sale

1534 Cow Bay Road, Cow Bay, NS B3G 1L3

More Details

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

50Picture(s)

1,274Sqft

Listing courtesy of Viewpoint Realty Services Inc.

C$580000

Residential For Sale

1534 Cow Bay Road, Cow Bay, NS B3G 1L3

3Bedroom(s)

2Bathroom(s)

DoubleParking(s)

1,274Sqft

Listing courtesy of Viewpoint Realty Services Inc.

This open and bright 3 bedroom / 2 bathroom home checks off all the boxes! It’s vacant and ready for new owners. Features include: Ducted heat pump / AC, cathedral ceilings, hardwood floors, basement walk-out, sunroom, deck, fenced dog run, and a heated double-car garage / workshop with 220 wiring and multiple connections for air compressed tools.

C$580000

Residential For Sale

1534 Cow Bay Road, Cow Bay, NS B3G 1L3

Listing courtesy of Viewpoint Realty Services Inc.

3Bedroom(s)

2Bathroom(s)

C$580000

Residential For Sale

16 Maple Leaf Drive, New Minas, NS B4N 5L2

More Details

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

26Picture(s)

896Sqft

Listing courtesy of Exit Realty Town & Country

C$154900

Residential For Sale

16 Maple Leaf Drive, New Minas, NS B4N 5L2

2Bedroom(s)

1Bathroom(s)

SingleParking(s)

896Sqft

Listing courtesy of Exit Realty Town & Country

Welcome to 16 Maple Leaf Drive - This sweet home is a the perfect starter for anyone looking to stop renting! This home has two bedrooms, one bath with an open concept kitchen and living space. A new deck, hot water tank, washer, dryer & beautiful new bathroom vanity were added less then 2 years ago. Also, includes 2 sheds for all your storage needs.

C$154900

Residential For Sale

16 Maple Leaf Drive, New Minas, NS B4N 5L2

Listing courtesy of Exit Realty Town & Country

2Bedroom(s)

1Bathroom(s)

C$154900

Residential For Sale

34 Hillcrest Street, Inverness, NS B0E 1N0

More Details

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

49Picture(s)

1,474Sqft

Listing courtesy of Engel & Volkers

C$429900

Residential For Sale

34 Hillcrest Street, Inverness, NS B0E 1N0

3Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,474Sqft

Listing courtesy of Engel & Volkers

Discover 34 Hillcrest Street, a unique property in central Inverness offering nearly half an acre of urban residential land across two PIDs. Larger in-town lots are rare, making this home a standout with country-like privacy and natural beauty just steps from the best of Inverness.

C$429900

Residential For Sale

34 Hillcrest Street, Inverness, NS B0E 1N0

Listing courtesy of Engel & Volkers

3Bedroom(s)

2Bathroom(s)

C$429900

Residential For Sale

52 Regal Road, Dartmouth, NS B2W 4H6

More Details

3Bedroom(s)

2Bathroom(s)

No GarageParking(s)

32Picture(s)

1,700Sqft

Listing courtesy of Keller Williams Select Realty (Elmsdale)

C$454900

Residential For Sale

52 Regal Road, Dartmouth, NS B2W 4H6

3Bedroom(s)

2Bathroom(s)

No GarageParking(s)

1,700Sqft

Listing courtesy of Keller Williams Select Realty (Elmsdale)

Wonderfully kept 3 bedroom-- 2 bath -home--in a great neighbourhood-- PLEASE VIEW THE VIDEO--ON REALTOR.CA--This Home offers -sunny living room -- large rec room-- very large unfinished work shop or storage plus laundry at rear of rec room - this--semi detached, is in a very popular part of Dartmouth :" Nantucket: .Very lovingly cared for -- this home has had many upgrades over the years.

C$454900

Residential For Sale

52 Regal Road, Dartmouth, NS B2W 4H6

Listing courtesy of Keller Williams Select Realty (Elmsdale)

3Bedroom(s)

2Bathroom(s)

C$454900

Residential For Sale

23 Oakdale Crescent, Dartmouth, NS B3A 2L7

More Details

3Bedroom(s)

3Bathroom(s)

DoubleParking(s)

50Picture(s)

1,900Sqft

Listing courtesy of EXP Realty of Canada Inc.

C$849900

Residential For Sale

23 Oakdale Crescent, Dartmouth, NS B3A 2L7

3Bedroom(s)

3Bathroom(s)

DoubleParking(s)

1,900Sqft

Listing courtesy of EXP Realty of Canada Inc.

Located in the heart of Crichton Park, experience elevated living in this beautifully reimagined 3-bedroom + den/office, 2.5-bath home. Meticulously redesigned with premium finishes and thoughtful detail throughout, every inch of this residence has been curated to create an entertainer’s dream, blending sophistication, efficiency, and comfort.

C$849900

Residential For Sale

23 Oakdale Crescent, Dartmouth, NS B3A 2L7

Listing courtesy of EXP Realty of Canada Inc.

3Bedroom(s)

3Bathroom(s)

C$849900

Residential For Sale

3 Keans Road, Hubbards, NS B0J 1T0

More Details

4Bedroom(s)

2Bathroom(s)

GravelParking(s)

40Picture(s)

1,424Sqft

Listing courtesy of Royal LePage Atlantic

C$339900

Residential For Sale

3 Keans Road, Hubbards, NS B0J 1T0

4Bedroom(s)

2Bathroom(s)

GravelParking(s)

1,424Sqft

Listing courtesy of Royal LePage Atlantic

Built in the 1800s, 3 Keans Road is located in the picturesque village of Hubbards, Nova Scotia. This 1.5 storey home offers timeless character with over 1,400 sq. ft. of living space, including four bedrooms and two baths, making it ideal for a growing family or anyone seeking for a charming coastal retreat with extra space for guests.

C$339900

Residential For Sale

3 Keans Road, Hubbards, NS B0J 1T0

Listing courtesy of Royal LePage Atlantic

4Bedroom(s)

2Bathroom(s)

C$339900

Residential For Sale

70 Saltwater Drive, Malagash, NS B0K 1E0

More Details

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

39Picture(s)

1,500Sqft

Listing courtesy of Engel & Volkers

C$499000

Residential For Sale

70 Saltwater Drive, Malagash, NS B0K 1E0

3Bedroom(s)

1Bathroom(s)

GravelParking(s)

1,500Sqft

Listing courtesy of Engel & Volkers

Come live your ocean dreams in this pristine, like new, eight year old home on five acres of level landscaped land. Overlooking the whole of Tatamagouche Bay, there are enchanting ocean views, and beyond to the delightful Cobequid Hills with their amazing display of colour in the Fall.

C$499000

Residential For Sale

70 Saltwater Drive, Malagash, NS B0K 1E0

Listing courtesy of Engel & Volkers

3Bedroom(s)

1Bathroom(s)

C$499000

Residential For Sale

4 Arthur Lismer Court, Bedford, NS B4A 4B4

More Details

3Bedroom(s)

4Bathroom(s)

SingleParking(s)

45Picture(s)

2,282Sqft

Listing courtesy of Keller Williams Select Realty

C$892000

Residential For Sale

4 Arthur Lismer Court, Bedford, NS B4A 4B4

3Bedroom(s)

4Bathroom(s)

SingleParking(s)

2,282Sqft

Listing courtesy of Keller Williams Select Realty

This three-level brick townhouse, just 40 feet from the water on the Bedford Waterfront, is Holiday Ready! With unobstructed Bedford Basin views, no condo fees and walking distance to DeWolf Park and local amenities. This oceanfront home provides a rare coastal escape that blends seaside tranquillity with city convenience.

C$892000

Residential For Sale

4 Arthur Lismer Court, Bedford, NS B4A 4B4

Listing courtesy of Keller Williams Select Realty

3Bedroom(s)

4Bathroom(s)

C$892000

Residential For Sale

1171 Meadowvale Road, East Tremont, NS B0P 1R0

More Details

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

28Picture(s)

1,025Sqft

Listing courtesy of RE/MAX Banner Real Estate

C$219900

Residential For Sale

1171 Meadowvale Road, East Tremont, NS B0P 1R0

2Bedroom(s)

1Bathroom(s)

DetachedParking(s)

1,025Sqft

Listing courtesy of RE/MAX Banner Real Estate

Now here's a cute little gem ideal for a small family, or retirees. The expensive things have all been done: Metal roof, vinyl siding, most windows, bathroom and flooring in the living room. Lots of oak cabinets and counter space in the eat-in kitchen plus there's a sweet little oil drip stove for cozy comfort with electric baseboard backup.

C$219900

Residential For Sale

1171 Meadowvale Road, East Tremont, NS B0P 1R0

Listing courtesy of RE/MAX Banner Real Estate

2Bedroom(s)

1Bathroom(s)

C$219900

3350 Results returned.Per Page

Stop Paying Rent

How to Stop Paying Rent and Own Your Own Home

Don’t pay another cent in rent to your landlord!

– save for a down payment

– stop lining your landlord’s pockets, and – stop wasting thousands of dollars on rent.

6 Little Known Facts That Can Help You Buy Your First Home

The problem that most renters face isn’t your ability to meet a monthly payment. Goodness knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.

But saving for this lump sum doesn’t have to be as difficult as you might think. Consider the following 6 important points:

You can buy a home with much less down than you think.

You may be able to get your lender to help you with your down payment and closing costs.

Even if you do not have enough cash for a down-payment, if you are debt-free, and own an asset free and clear (such as a car, for example), your lending institution may be able to lend you the down-payment for your home by securing it against this asset.

You may be able to find a seller to help you buy and finance your home.

Some sellers may be willing to hold a second mortgage for you as a “seller take-back.” In this case, the seller becomes your lending institution. Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.

You may be able to create a cash down payment without actually going into debt.

You can buy a home even if you have problems with your credit rating.

If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.

You can, and should, get preapproved for a home loan before you go looking for a home.

Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter’s rut forever. Typically there is no cost or obligation to enquire.

9 Buyer Traps & How to Avoid Them

No matter which way you look at it, buying a home is a major investment. But for many home buyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or * losing their dream home to another buyer or, * (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that’s best for you.

This important article discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.

The 9 Buyer Traps

Bidding Blind

Buying the Wrong Home.

Unclear Title.

Inaccurate Survey.

Undisclosed Fix-ups.

Not Getting Mortgage Preapproval.

Preapproval is fast, easy and free. When you have a preapproved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

Contract Misses.

Hidden Costs.

Rushing the Closing.

One More Tip…

Residential For Sale

9 Merriweather Crescent, Garlands Crossing, NS B0N 2T0

Residential For Sale

Residential For Sale

Residential For Sale

2008 Mount Hanley Road, Mount Hanley, NS B4N 1P0

Residential For Sale

Residential For Sale

Residential For Sale

561 Hall Road, Millville, NS B0P 1C0

Residential For Sale

Residential For Sale

Residential For Sale

1534 Cow Bay Road, Cow Bay, NS B3G 1L3

Residential For Sale

Residential For Sale

Residential For Sale

16 Maple Leaf Drive, New Minas, NS B4N 5L2

Residential For Sale

Residential For Sale

Residential For Sale

34 Hillcrest Street, Inverness, NS B0E 1N0

Residential For Sale

Residential For Sale

Residential For Sale

52 Regal Road, Dartmouth, NS B2W 4H6

Residential For Sale

Residential For Sale

Residential For Sale

23 Oakdale Crescent, Dartmouth, NS B3A 2L7

Residential For Sale

Residential For Sale

Residential For Sale

3 Keans Road, Hubbards, NS B0J 1T0

Residential For Sale

Residential For Sale

Residential For Sale

70 Saltwater Drive, Malagash, NS B0K 1E0

Residential For Sale

Residential For Sale

Residential For Sale

4 Arthur Lismer Court, Bedford, NS B4A 4B4

Residential For Sale

Residential For Sale

Residential For Sale

– stop lining your landlord’s pockets, and
– stop wasting thousands of dollars on rent.

* paying too much for the home they want, or
* losing their dream home to another buyer or,
* (worse) buying the wrong home for their needs.